The Goldman Sachs Group Upgrades Spyre Therapeutics (NASDAQ:SYRE) to Strong-Buy

Spyre Therapeutics (NASDAQ:SYRE) was upgraded by research analysts at The Goldman Sachs Group to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms also recently commented on SYRE. Guggenheim boosted their price target on Spyre Therapeutics from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird increased their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wedbush restated an “outperform” rating and set a $65.00 price objective on shares of Spyre Therapeutics in a research report on Monday, January 13th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $54.83.

Spyre Therapeutics Stock Performance

SYRE opened at $22.37 on Tuesday. The stock has a fifty day moving average of $22.87 and a 200-day moving average of $27.04. Spyre Therapeutics has a fifty-two week low of $20.07 and a fifty-two week high of $47.97. The company has a market capitalization of $1.15 billion, a P/E ratio of -2.99 and a beta of 2.85.

Institutional Investors Weigh In On Spyre Therapeutics

A number of large investors have recently bought and sold shares of SYRE. Barclays PLC grew its stake in Spyre Therapeutics by 64.7% in the third quarter. Barclays PLC now owns 105,467 shares of the company’s stock valued at $3,101,000 after acquiring an additional 41,424 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Spyre Therapeutics during the 4th quarter valued at $290,000. Charles Schwab Investment Management Inc. increased its stake in Spyre Therapeutics by 239.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 333,275 shares of the company’s stock valued at $9,802,000 after purchasing an additional 235,094 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Spyre Therapeutics in the third quarter valued at $33,609,000. Finally, Jane Street Group LLC grew its holdings in shares of Spyre Therapeutics by 78.7% during the third quarter. Jane Street Group LLC now owns 20,641 shares of the company’s stock valued at $607,000 after buying an additional 9,090 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors and hedge funds.

Spyre Therapeutics Company Profile

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).